Intravenous equipment market sales create significant incremental opportunity over 2027

New Delhi: The global intravenous equipment market is currently valued at US$ 12.3 billion and is predicted to reach US$ 16.1 billion by 2027, says Fact.MR, a market research and competitive intelligence provider.

Using intravenous equipment, nutrients or pharmaceuticals, such as insulin or hormones, chemotherapeutic medicines, antibiotics, and painkillers, can be administered directly into a vein. It is not necessary to use a new needle for each treatment once the IV cannula has been placed into the vein. The nurse or medical professional can then immediately administer medications, fluids, or blood into the bloodstream.

Based on product, the market is segmented into IV catheters, securement devices, administration sets, infusion sets, drip chambers, and others. IV catheters are highly demanded due to them being able to reduce complications during the medical procedure. Peripheral IVs, central venous catheters, and midline catheters are the three primary subcategories of IV catheters. Several IVCs are utilised daily in hospitals depending on catheter type, and each catheter has a different use.

One of the main factors driving the demand for intravenous equipment globally is the rising importance of intravenous (IV) therapy. IV therapy is frequently administered to both surgical and non-surgical patients and is a crucial part of the treatment of many disorders. Another important reason propelling the expansion of the global intravenous equipment market is the rising prevalence of chronic diseases across the world. Cancer, heart disease, lung disease, kidney disease, and diabetes are examples of the most prevalent chronic diseases. Furthermore, the development of healthcare infrastructure in underdeveloped nations has opened up attractive potential opportunities for intravenous equipment suppliers.

Key Takeaways from Market Study

• Sales of IV catheters are predicted to rise at a CAGR of 6% from 2022 to 2027 and reach US$ 5 billion by 2027.

• The global intravenous equipment market is expected to expand at a CAGR of 5.6% from 2022 to 2027.

• The market in China is anticipated to surge ahead at a CAGR of 9% during the forecast period.

• Securement device sales are predicted to progress at a CAGR of 6.6% during the next five years.

“Rapid technological advancements are anticipated to spur companies to develop more user-friendly and cutting-edge intravenous equipment, which will present the market with sizable opportunities during the forecast period,” says a Fact.MR analyst.

Winning Strategy

Becton, Dickinson and Company, Terumo Medical Corporation, B. Braun Holding Gmbh & Co. Kg, Teleflex Medical Inc., and Medtronic Inc. are notable suppliers of intravenous systems.

The first and sole plug suitable/compatible with a microcatheter to occlude arteries up to 8 millimetres in diameter, the AZURTM Vascular Plug, was launched in July 2021, by Terumo Medical Corporation (TMC). In order to slow down or stop blood flow through the peripheral vasculature’s arteries, this is used.

Competitive Landscape

The market’s major players are concentrating on integrating IV equipment such as IV infusion pumps with EHR technology.

Manufacturers of intravenous equipment are concentrating on leading economies to expand their market presence globally in light of the rapid growth in the healthcare sector.

A privately-owned company with its headquarters in Salamanca, Spain, Cytognos specializes in flow cytometry technologies for the diagnosis of blood cancer, detection of minimal residual disease, & immune monitoring study for blood disorders. In February 2022, BD (Becton, Dickinson and Company) announced its acquisition of Cytognos.

Link to the report here.